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United Kingdom Will Implement 5AMLD: Treasury Official

By Manju Manglani

The United Kingdom will implement the European Union’s upcoming Fifth Anti-Money Laundering Directive, or 5AMLD, despite planning to exit the bloc in 2019, an HM Treasury official said Monday. Negotiations between the European Commission, Parliament and Council to revise the bloc’s AML directive, which among other measures will expand AML obligations to digital currency exchanges and wallet providers, are expected to conclude early next year, likely giving EU member states until at least 2020 to transpose its provisions into national rules. The United Kingdom is involved in the negotiations and plans to amend its national AML regulations in line with...

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